After Solar Power Bill Passes, Ga. Companies Prepare To Grow
Good news for those considering installing solar panels.
The Georgia Legislature recently passed a bill that would make it easier for homeowners to secure financing and install solar panels with little to no upfront costs.
Atlanta-based Hannah Solar has always focused on commercial and industrial-scale projects. Now CEO Pete Marte expects residential installations to become a bigger part of the business.
“I anticipate we’ll add between 24 to 50 employees over the next 18 months,” says Marte.
He says the bill helps Georgia’s solar market because homeowners will have more ways to spread out upfront installation costs, which on average hover around $15,000.
James Marlow of Radiance Solar, which is also based in Atlanta, agrees about the uptick in residential installation, but doesn’t expect a huge influx in demand overnight. He notes Georgia’s electric rates remain relatively low and homeowners still typically have to wait at least 10 years to realize solar’s financial benefits.
“You’re certainly going to see more systems. I’d certainly say hundreds, but I’m reluctant to say thousands right away because the bill doesn’t change the underlying economics or energy rates. It’s not a new value proposition. It just gives you a new ownership model,” says Marlow.
The governor is expected to sign the bill into law later this month.
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